(Reuters) – U.S. equity funds logged big outflows in the week to November 30 as investors booked profit after concerns over economic growth resurfaced due to protests in major Chinese cities against strict COVID-19 policies. Investors were also cautious about the tech sector amid a hit to iPhone production in China. According to data from…
By Jane Lanhee Lee REDWOOD CITY, Calif. (Reuters) – Reach Power Inc, a Silicon Valley startup that beams electricity wirelessly, said on Friday it had raised $30 million in a funding round that will help it commercialize its products. While big-dish antennas with high-power sources have been used to demonstrate similar technology in the past, Chris Davlantes,…
TOKYO (AP) — Japan’s parliament approved a hefty 29 trillion yen ($216 billion) supplementary budget Friday aimed at countering the blow to household finances from rising food and utility costs and the weaker yen. It is the second batch of supplementary spending this year to help boost the economy. The extra spending, funded mainly by…
By Shadia Nasralla LONDON (Reuters) – Oil futures were broadly stable on Friday, but were poised to end the week up, ahead of a meeting by the Organization of the Petroleum Exporting Countries and its allies (OPEC+) on Sunday and an EU ban on Russian crude oil kicking in on Monday. Brent crude futures were…
By Samuel Indyk LONDON (Reuters) – The dollar was pinned near 16-week lows against a basket of major currencies on Friday ahead of key U.S. labour market data, while the yuan was set for its biggest weekly gain since China revalued its currency in 2005. The dollar index, which measures the currency against six major…
Worries about inflation weighed on Wall Street Friday, leaving major indexes mixed after a report showed wages for U.S. workers are accelerating, which is good news for them but could feed into even higher inflation for the nation. The S&P 500 ended 0.1% lower after having been down as much as 1.2% earlier in the…
PARIS (Reuters) – Airbus delivered 66 jets in November, leaving itself a near-record challenge of 137 in December to meet its 2022 goal, although it has not excluded the possibility that the target will be trimmed, industry sources said. The world’s largest planemaker has delivered an estimated 563 planes this year, the sources said, up…
(Reuters) – Swiss lender Credit Suisse faces a litmus test over its rights issue, just one several trials markets must work through between now and year-end even if some are already gearing up for festive cheer. U.S. data will provide a reality check on the shifting nature of inflation while policy makers at Australia’s central…
SHANGHAI (Reuters) -China Evergrande Group’s electric vehicle unit has suspended mass production of its only model due to a lack of new orders, two people with knowledge of the matter said, in the latest set of troubles facing the indebted property developer. China Evergrande New Energy Vehicle Group said in mid-September that it had started…
By Akash Sriram (Reuters) -Tesla Inc Chief Executive Elon Musk delivered the company’s first heavy-duty Semi on Thursday to PepsiCo without offering updated forecasts for the truck’s pricing, production plans or how much cargo it could haul. Musk, who appeared onstage at an event at Tesla’s Nevada plant, said the battery-powered, long-haul truck would reduce…
